Proposed Work on East facing facade	Costs (HST included)	Grant Amount
Replace failed block with new, bond and recap	$3,277.00	$1,638.50
Supplied materials, labour and equipment to complete Installation of Eco Metal T18 Siding panels	$7,864.80	$3,932.40
Repair/replacement of cornices, parapets, eaves, and soffits	$847.50	$423.75
Building Permit	$239.56	$239.56
	Total: $12,228.86	$6,234.21

The total estimated eligible costs for the proposed facade improvements are $23,237.89, and the total grant amount is $11,738.73, broken down for each facade in the table.

Risk Analysis:

If approved, grants will not be dispersed until all improvements are completed and inspected by the Planning & Building, and cleared for payment by the Finance Department. Improvements will be funded through Reserve Fund 156 (Building Facade Improvement Program and Urban Design Guidelines for Main Streets) which was established for this purpose. There are sufficient funds in Reserve Fund 156 to fund this application however the balance remaining after commitments is reaching a low level. Without an identified source of additional funding for this reserve, future requests could be jeopardized.

Financial Matters:

Financial Matters: The current balance in Reserve Fund 156 is $114,890. However, $82,500 has been previously committed to recent facade improvement application, leaving a balance of $32,390 remaining in the fund. If the proposed grant application is approved the fund would still have $20,651 remaining.

Consultations:

Consultations: Planning and Building Department staff have consulted with the owner prior to accepting the application and throughout the process. Cathy Masterson, Manager of Cultural Affairs from Recreation & Culture, Rob Vani, Manager of Inspection from the Building Division was consulted through site visits and inspection of work completed to